Senior European traders have spoken of a marked increase in block trades among institutional investors in recent weeks, amid a renewed appetite for equities and as part of the shift away from electronic execution and towards voice-brokered transactions.

Blocks, large-sized transactions favoured by institutions such as pension funds, are often traded away from public markets, to help prevent adverse price movements.

Stuart McGuire, co-head of equity trading for Europe, the Middle East and Africa at Deutsche Bank, said he had seen a “significant increase” in block trades over the last six months, including deals of “€200m and above”.

McGuire said that increased volumes had contributed to the rise in larger deals but added there was “an increased focus on high-touch trading”.

He said: “Clients want advice around trading more than ever before and we’re dealing more with portfolio managers, as well as buyside dealing desks.”

Richard Semark, a managing director in equities at UBS, said that he had seen a “pick-up in larger-sized trades in recent weeks”, with “more stock selection taking place, more switch trades and, overall, people being more positive on the market”.

A managing director at one bulge bracket bank said investors had a “more risk-on attitude” towards European equities with “block activity by pension funds, particularly through December”.

• Correction: The original version of this story incorrectly quoted Stuart McGuire as stating that "we’re dealing more with portfolio managers, rather than buyside dealing desks.” It has been amended to "we’re dealing more with portfolio managers, as well as buyside dealing desks”.